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captioned by the national captioning institute --www.ncicap.org-- >> welcome to "the journal." our headlines at this hour, 21 people have been killed and others wounded in three blasts in india's financial capital. rupert murdoch withdraws its bid for bskyb. and united states through to the finals after beating france 3-1.
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three bomb blasts have rocked credit districts in imbibe during rush-hour killing at least 21 people and 100 wounded. this is the biggest attack since the 2008 attacks blamed on pakistan based militants. they say one glass was at a bus stop in the crowded neighborhood. the others were at the jewelry markets, a very business the district. >> the bombs exploded at the height of the evening rush hour. within the space of 10 minutes, they ripped through three busy district. won a famous jewelry market that draws crowds of shoppers. it is believed that the perpetrators planted the explosives on scooters and motorcycles. one of the bombs was hidden inside of a car.
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>> about 6:45 p.m., within minutes of each other. this was a coordinated attack by terrorists. >> there was an immediate claim of responsibility. they believed the bombs were improvised devices. so far, they have refused to blame any groups. at the united nations, the german foreign minister expressed his shock. >> i condemn these horrible acts of terror. our condolences are with the families and with their friends. of the victims. the perpetrators must be brought to justice. >> bomb by has repeatedly been a terrorist target.
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last incident was a re from militants that laid siege to the city and killed 166 people. >> investigations are still in the early stages. our correspondent gave us this update on the situation. >> it is a little bit more, than a few hours ago just after the blasts. i am sure it will be denied that will be remembered as a nightmare where people will not be able to sleep. another attack just when people are telling us that at a point in time when the city had kind of gotten back its confidence. nothing had happened for a few years and now these attacks will really shake the metropolitan city in the financial capital. >> are authorities saying
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anything right now about who might be behind the blast? >> it is a little early for them to say anything, but the ministry has confirmed that they consider this a terrorist attack. other politicians and officials urged people to remain called and not to take part in any of the rumors spreading. this is to deter people from the communal violence. the pakistan based organization is always one that suspicion falls on the first and is also supposed to be behind the devastating series of terror in november of 2008 but it is too early to speculate. >> rupert murdoch has dropped his bid for the full takeover of the satellite channel bskyb.
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is this empire is under investigation after some of its reporters listened and on thousands of voice mails and bribe police officials last weekend. they closed the news of the world newspaper. >> he was probably hoping the storm over the scandal would settle. by now, he must realize that is not going to happen. in parliament, there was cross- party condemnation of his company. >> what has happened that this company is disgraceful and it has to be addressed at every level. they should stop thinking about mergers. >> three of his papers to bribe police and hiked into the funds of thousands.
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the office is still under investigation. they have thwarted his bid for the broadcasting company. it would have represented a major expansion of his media presence. he will now be seeking to limit the damage to the global corporate empire. >> what does the decision mean for his media activities in britain? i put that question to our london correspondent. >> he is still very strong here in the uk. thebiggest tablo newspaper, very portant da n' t ly is going tbe
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willntnix eight vessels similar to tho used by e german navy. geanoverent has come under fierce criticism for the reportedsa of 200 battle tanks to saudi arabia. the uprising against the libya is at a crossroads. that is the aesen psented by a representative of the
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rebels. he told european parliament that democracy was at stake. he wasalso at the nato headquarters oicials expressed concern about atrocities committed by rebel trps >> the visit was in nature and he came away with assurances ocoind ppt. >th mt ntinue. the forces are ilthatin innocent people. >>um rights hall watched as theyenepted violations in western libya. >> they looted and pillaged. iae at. the rebels are more less taking venge in places they are liberating because people hoy
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live there. >> human rights watch says one itrearerare working with the aids. th organization has repeatedly condemned oerors t st. he faced tough questioning aut the human rights record. >>ho iidtsoola in the very early days of the revolutionanwehave been investigating those cases. we are ain a han rights violations. >> the un resolution mandates protection of cilns fm both sides of the conflict, if need be. >> the younger brother of the gh psintas been buried a day after he was killed. he was a powerful fur in southern afghanistan. it could create a power vacuum
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and has raised many questions about the safety oerfgn officials. >> the president was joined by government officials said a prererceor his slain brother. brother was shot and killed by a security ar. the leader condemned the attacks. >> my message to an extremist is this. my cotren m brothers, stop killing your own people. it is easy to kill. but a real man is a man that sas whole people's lives. >> they travel to the ancestral village. >> he was a leading power
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broker in the south. his power stemmed from his family connections and the founhecculed analysts warn that the assassination could have serious consequences for afghanistan. >> it will boost to the more out of the -- the morale of the taliban and weaken the malof th afghan government. chaos might be and beaten back. this is a tremendous achievement for the taliban. >> they appointed another one of his brothers to a key role in the region to stave off political fighting and. >> women's soccer, japan is leading sweden by three goals to one in the world cup semifina with 20 minutes left to play out.
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when will face the u.s. wonhd. >> for american fans, it was all the hope for and more. the first serious offensive play unfolded in the ninth minute putting u.s. on the board. afterth, egog got tougher. france and several gold and opportunities to even things up and capitalized in theif ftof that. they went all the way through to even the score at 1-1. france state of theffsi pressing -- pressuring the american defense. she proved herself as one of the stit a picture-perfect header. to-1. another superb offensive play. maintaining her composure to seal the deal. the u.s. women are just one game away from the trdor c title.
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>> the score japan of sweden, 3- 1. we will be rit ck will that make good on the calls for the end of the cartel of the u.s. rating agencies?
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moffat welcome back. at the anchor is mounting across europe not only as politicians and bankers demanding ever more austerity, but also at the ratings agencies that determine whether a country close the credit worthiness is solid or junk. officials are starting to tune into the public mood and are calling into question the authority of some of the financial institutions upon which global financing -- global financing is based. breaking the power of the closed club of rating agencies. the justice commissioner has called for them to be broken up saying that the hero must not be
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brought to ruin by three private u.s. companies. at the finance commissioner has described the three as a cartel. >> standard and poor's, moody's, and fitch all have their headquarters in the heart of manhattan. these agencies have a 95% market share of the ratings market. they decide how creditworthy countries and companies are. and they have a massive effect on the fate of europe's economies. there are plenty that want to and the stranglehold of the big three. >> is not good when the entire world is being governed by three american companies. it would be better if there were more competition. and i would be very keen to see european and asian agencies as well. the situation as it is now is
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not healthy and we must put and intellect. -- an end to it. >> european lawmakers helped create that unhealthy situation. the european union strengthen the role of credit agencies when it adopted the international banking agreement. the question the wisdom of that move. he helped lay the foundation for the single european currency while at the european commission. he is analyzing the efforts to save the ural -- euro. >> if they are a minimum requirement, the agencies would not be so powerful. >> they are supposed to make the banking system more stable. somehow the people that rate it see things? a small independent ratings agency believes the government should enact increased
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competition. >> the problem have right now is the regulatory framework lead to the dominance of the big three. that market has to be opened up, or there can't be any competition. >> assessing government that is big business. the experts cast out to set up a european ratings agency as a counterweight to commercial agencies. >> with you think about a state run ratings agency issuing national ratings, it is hard to see those ratings as credible. >> whether or not investors believe that will ultimately be repaid. >> it is not just about creating new rating agencies, rising economies are also calling for the establishment of independent agencies in their own countries.
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and there are calls for 80-20 agency as well. they point to the example of italy this week but came under attack by financial markets. the country is the third largest economy in europe. the borrowing rates are a white- collar form of strongarm robbery. a specially as rome is considering more cuts. >> other crisis, at this time is italy's finances in trouble. national that is almost 120% of gdp. twice the amount allowed. the headline spell out and doom and gloom. but the finance minister says he has everything under control. not all italians are convinced it is over yet. >> there is a lot of speculation because there are a number of
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lobbies that govern this country. they see their own -- the middle class gets poorer and poorer. the rich stay rich. that happens all the time. >> the problems are not going to disappear overnight. the country is deep in crisis. will readily be the next target for speculators? >> it is the transfer, and a repositioning. due to the events of politics. this has nothing to do with the people attacking italy in particular. >> defending the country is the job of the finance minister. he has pushed through a tough austerity package and is promising to sort out the
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country's finances. >> the decree to balance the budget will apply for a time of four years. this austerity package will be approved by friday. >> is a strong political signal, but there is no way to know if it will be enough to stave off a bigger crisis in italy. >> not only are they a closed shop averse to open this, how often get it all wrong. consider the u.s. financial crisis. caused in large part by some high mortgages that went bad. they were bundled along with other mortgages into securities known as collateralized mortgage obligations. they received a very high ratings from the rating agencies but in the end, they turned out to be complete junk. have they been priced -- have been priced according to their
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true risk, we would not see the giant write-downs. >> such idyllic scenes of terror little resemblance to the country's financial situation. the economy may not be in ruins, but it has taken a battering. in may, they downgraded -- downgraded agree to that. doing its bit by pushing a tough austerity measures through parliament. but the ratings agencies have remained unimpressed. from the top rating all the way down to a d rating for bankruptcy, the agencies have made headlines by assigning each of status to a number of european countries. some economists believe they have gone too far. >> they're certainly making the crisis worse. we're now seeing the contagion that many people have warned us of.
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>> the agencies downgraded portugal to junk status as well. experts at the university in switzerland to say it may not be justified. they argue that factors such as debt level don't justify a negative rating in themselves. they can quickly turn into a self-fulfilling prophecies. the low ratings make lenders demand higher rates making it harder for governments to raise capital. even when the agency's hong give positive ratings, they can still get it wrong. take the u.s., for example. the agencies give a positive assessment of complex packages of property loans that turned into a toxic assets. a huge market collapsed ushering in the global financial crisis. the agencies came under fire for failing to see the storm.
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since then, they have been more cautious and more negative to the detriment of certain european states. >> thank you for joining us. stay with us if you can.
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tv
Journal
PBS July 13, 2011 6:00pm-6:30pm PDT

News/Business. Breaking news from around the world. (CC) (Stereo)

TOPIC FREQUENCY U.s. 7, Italy 4, Us 4, Europe 3, France 3, Bskyb 2, Rupert Murdoch 2, Pakistan 2, Sweden 2, Portant Da N 1, Moody 's 1, Ho Iidtsoola 1, Unimpressed 1, Rome 1, Metropolitan City 1, United States 1, Ntinue 1, Wasalso 1, Aesen Psented 1, Nato 1
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